DMG Case Study — Oakville Grocery Company, Inc.

A grocery chain providing gourmet selections in the Napa Valley of California.

Business Problem:

The company required outside council to operate the business during the Assignment for the Benefit of Creditors (ABC) process. Diablo Management Group (DMG) was engaged to serve as assignee during the ABC process. Richard Couch assumed fiduciary control of Oakville Grocery, while Michael Cronin served as project manager.

DMG Focus:

Adhering to ABC requirements

Close the business with the highest return to creditors

Throughout this assignment DMG conducted all operations, while preparing the business for sale. An auction was hosted among various bidding parties and Oakville Grocery was sold to highest bidder.

Results:

Transferred company assets and operational control from old management to new buyer

Adhered to all timeframes imposed by courts and the Proof of Claim process

Assumed responsibility for and managed the shutdown of 401(k) plan

Distributed claims on assets to general unsecured creditors of Oakville